521 Prospect Avenue

Description

Welcome to #521 Prospect Avenue aka ''Fernwood West'' a well established state licensed ''Residential Care Home'' facility located in beautiful West Hartford on a huge and flat (0.66) acre lot. Originally built in (1880) and having since been refurbished / modernized including the mechanical systems. This is a lovely property with great curb appeal and an excellent location, especially for a highly successful (RCH) ''Residential Care Home''. The property consists of (16) rooms, (11) bedrooms & (4.0) full baths, complete with a commercial kitchen, walk-up attic and a full / ''Very'' clean and tidy useable basement. This family owned property and business serves (18) residents daily and exhibits the (4) decades of family owned pride that went into the business and property every year. The delightful owners wish to finally retire and handover ''Fernwood West'' this wonderful business and gorgeous property to the new ownership who will carry on the tradition of serving the ever increasing senior population for which these essential service, location and property are in such high demand. Please note this business and property has (2) additional operations of the same ''Residential Care Home'' business and they are also both available. Those properties are: #27-29 Girard Ave (MLS# 170488575) #38 Girard Ave (MLS#170488574). PLEASE CLICK ARROW BELOW FOR ADDITIONAL FINANCIALS AND GROSS YEARLY INCOME DATA. RESIDENTIAL CARE HOME AKA ''FERNWOOD MANOR WEST'' CURRENT GUARANTEED INCOME PAID BY STATE OF CT DEPT OF ''DSS'' AT ($2,760.92) PER MONTH / PER RESIDENT WITH A FULL OCCUPANCY OF (18) RESIDENTS, THIS PROPERTY WILL PRODUCE TOTAL GROSS INCOME OF ($614,911) YEARLY. CURRENT RENTAL RATE OF ($90.77) DAILY PER RESIDENT IS ADJUSTED YEARLY EVERY JULY 1ST, TO ACCOUNT FOR COST OF LIVING INCREASES AND OPERATING EXPENSES. PRICING IS INCLUSIVE OF LONG TERM RESIDENTIAL CARE HOME ''RCH'' AS LICENSED BY STATE OF CT DEPT OF HEALTH. PLEASE SEE ATTACHEMENTS TAB FOR ADDITIONAL FINANCIAL INFORMATION.